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SMART MONEY STRATEGIES FOR EVERY AGE AND SITUATION
Your 20s and 30s—Establishing Your Financial Foundation

Section 4 of 11:
CREDIT:
What Exactly Is Good Credit?
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Credit has become so ingrained in the U.S. consumers psyche that
it is hard to imagine our lives without it. For example, you would
find it difficult to check into a hotel, rent a car, or buy an airline
ticket without a credit card. You probably could not afford a home
without assuming a mortgage. And you might never make it
through the Christmas season without charging your purchases on
your retail store accounts and paying for the gifts over the next
several months.

Yet many people who have abused their borrowing privileges find
themselves cut off from this normal world of commerce because
they no longer qualify for credit. To ensure that you do not join
these ranks, learn all you can about credit and how to make the
most of it.

Use this report and the tips included to help you take control of
your credit obligations, increase your wealth, cut your taxes and
buy what you need when you need it without paying a king’s
ransom in interest.

Combined with the tips, techniques and action strategies included
in the other sections of this report, you can learn how to micro-
manage your funds so that your money multiplies itself.

Read on and reap the financial rewards!

Jordan E. Goodman
America’s Money Answers Man
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CREDIT:
What Exactly Is Good Credit?

Get off to a good start by establishing credit with several lenders
and paying your loans punctually. Remember, credit reporting
agencies track how well or poorly you repay your debts. The time
to establish a good credit record is early in your career. If
necessary, have your parents co-sign a loan or credit
card application so you qualify; then, as soon as possible, take over
the payments until you qualify for the loan on your own record.

Resist the great temptation to buy more than your income can
support. You may want a new car, better furniture, a state-of-the-art
stereo, and lots more, but you will only ruin your credit record if
you go on a spending binge, then are unable to pay your bills.
Instead, be disciplined in your use of credit, and pay off one
major purchase before you take on the next.

One easy way to save money is to apply for the credit cards with
the lowest interest rates and annual fees. (See RESOURCES below
for a report that makes this easy.)

If you have outstanding loans that financed college or other
education, you will have to devote a good amount of your income
to paying them off.

If you pay a particularly high interest rate on your student loans,
look into consolidating them under one lower rate loan. The
Student Loan Marketing Association (Sallie Mae) offers such a
consolidation loan through its SMART Loan Account. For more
information, call 800-524-9100.

To some extent, the amount of money you devote to repaying
education loans will limit the amount of additional credit you can
qualify for and should assume.

Though you should be careful in taking on credit, it is not sinful to
borrow when you are in your 20s and 30s. Because you are
establishing a household, you need to buy many things that will
last for years. Therefore, expect to take on some debt—just don’t
let it overwhelm you.

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HOW TO REAP THE REWARDS YOU DESERVE!

Starting Now . . .

Use the following Resources, Action Steps and Extra Info to take
the next step toward your solid financial future.

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RESOURCE | RESOURCE | RESOURCE
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Credit Card Optimizer Kit

Tired of playing the credit card surfing game, constantly
transferring balances from one introductory offer to another?
Maybe you would rather just get the get the best credit cards for
your usage pattern and leave the surfing game to others.

The Credit Card Optimizer Kit give you all the information you need
in one simple 8-page report.

It lists the name and phone numbers of banks offering the best
credit card deals in five categories:

Lowest permanent interest rates—most below 10%

No annual-fee cards with low rates

Frequent-flier mile cards

Rebate and special promotion cards with rebates up to 5%

Secured cards if you have less-than-perfect credit

Each card listing shows the card’s interest rate, whether the rate is
fixed or variable, annual fee (if any) and whether it is a MasterCard
or Visa.

Click here to order the Credit Card Optimizer Kit .

You also receive The Insider’s Guide to Credit, a book explaining everything you need to know in order to understand and improve you use of credit.

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RESOURCE | RESOURCE | RESOURCE
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Everyone’s Money Book on Credit
by Jordan E. Goodman

Credit has become indispensable to everyday life in the United
States. If you take control of your credit obligations, you can
increase your wealth, cut your taxes, and buy what you need when
you need it without paying a king’s ransom in interest.

www.MoneyAnswers.com/bookstore/
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ACTION STEP | ACTION STEP | ACTION STEP
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Free Credit Reports

Sign up for a free 30-day trial at the Equifax website.
You can see your credit rating on a scale similar to what creditors
see as well as the detail of your credit report so you can spot any
inaccuracies.

Click here to sign up for your free trial with Equifax:
www.GuardMyCredit.com

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ACTION STEP | ACTION STEP | ACTION STEP
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Payoff All of your Debts
in 5-7 Years using the
money you ALREADY make!
DebtIntoWealth